FY2022 EPS Estimates for Manulife Financial Co. (NYSE:MFC) Reduced by National Bank Financial

Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) – Analysts at National Bank Financial decreased their FY2022 earnings per share (EPS) estimates for Manulife Financial in a research report issued on Tuesday, April 19th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will earn $2.64 per share for the year, down from their previous estimate of $2.74.

Other equities research analysts have also issued research reports about the stock. Scotiabank raised their price target on shares of Manulife Financial from C$29.00 to C$30.00 in a research note on Friday, February 11th. BMO Capital Markets lifted their price objective on Manulife Financial from C$35.00 to C$37.00 in a research note on Friday, February 11th. StockNews.com lowered Manulife Financial from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. Desjardins lifted their price target on Manulife Financial from C$29.00 to C$30.00 in a research report on Monday, February 14th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Manulife Financial in a report on Thursday, March 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Manulife Financial has a consensus rating of “Hold” and an average price target of $30.27.

Shares of MFC stock opened at $21.24 on Friday. Manulife Financial has a one year low of $17.66 and a one year high of $22.22. The firm has a 50-day moving average of $20.73 and a 200-day moving average of $20.08. The company has a market cap of $40.97 billion, a P/E ratio of 7.48, a P/E/G ratio of 0.77 and a beta of 1.25.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last released its earnings results on Wednesday, February 9th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $17.14 billion for the quarter. During the same quarter in the previous year, the firm earned $0.57 EPS.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 21st. Stockholders of record on Wednesday, February 23rd were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, February 22nd. This represents a $1.04 annualized dividend and a dividend yield of 4.90%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.23. Manulife Financial’s payout ratio is currently 36.62%.

Hedge funds have recently modified their holdings of the stock. Artemis Investment Management LLP increased its stake in Manulife Financial by 244.8% in the 1st quarter. Artemis Investment Management LLP now owns 1,914,026 shares of the financial services provider’s stock worth $40,820,000 after purchasing an additional 1,358,905 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Manulife Financial by 50.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,304,937 shares of the financial services provider’s stock worth $27,853,000 after purchasing an additional 439,766 shares during the last quarter. First Heartland Consultants Inc. increased its stake in shares of Manulife Financial by 21.7% in the first quarter. First Heartland Consultants Inc. now owns 64,463 shares of the financial services provider’s stock worth $1,376,000 after buying an additional 11,502 shares during the period. Fifth Third Bancorp raised its holdings in Manulife Financial by 126.6% during the 1st quarter. Fifth Third Bancorp now owns 9,147 shares of the financial services provider’s stock valued at $195,000 after buying an additional 5,111 shares during the last quarter. Finally, AE Wealth Management LLC boosted its position in Manulife Financial by 26.5% during the 1st quarter. AE Wealth Management LLC now owns 37,784 shares of the financial services provider’s stock valued at $807,000 after buying an additional 7,912 shares during the period. Institutional investors own 46.53% of the company’s stock.

Manulife Financial Company Profile (Get Rating)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; And Corporate and Other segments. The Wealth and Asset Management Businesses segment provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

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Earnings History and Estimates for Manulife Financial (NYSE:MFC)

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